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Fort Knox Federal Directly Helps 48 military families thru USA Cares

December 21, 2015

In 2015, Fort Knox Federal Credit Union and its members donated nearly $30,000 to USA Cares that directly helped 48 military families to pay their utility bills, buy food and fuel as well as assist with housing costs.

USA Cares provides emergency assistance to post-9/11 active duty U.S. military service personnel and veterans who are transitioning back into civilian life after more than a decade of conflict. Both the number of individuals needing help and their requests to USA Cares are increasing.

Since opening its doors in 2003, USA Cares, a private, non-profit agency that provides advocacy along with emergency financial aid to service men and women as well as their families, has responded to more than 75,000 requests with over $12 million in grants that the recipients do not have to repay.

USA Cares started as a grassroots partnership of the Fort Knox Chapter of the Association of the United States Army; Kroger Food Stores – Mid-South Division; and WAVE-3 TV, the NBC affiliate in Louisville, Kentucky. One of the early and continuing supporters of USA Cares has been Fort Knox Federal Credit Union.

“We know better than other financial institutions in this area about the special needs of the military, civil service employees and their dependents. Fort Knox Federal has been servicing the financial needs of its members for 65 years,” said Ray Springsteen, Fort Knox Federal President and CEO.

“Our organizational missions align in that both USA Cares and Fort Knox Federal are dedicated to improving the lives of our respective clients and members,” Springsteen added. The two organizations share another connection. USA Cares is one of more than 525 select employer groups of Fort Knox Federal making USA Cares employees eligible for Credit Union membership.

Some of Fort Knox Federal’s financial support for USA Cares came through individual Credit Union members’ joining the Patriot Club, “…which is open to anyone wishing to support our mission of helping bear the burdens of service by providing post-9/11 military families with financial and advocacy support in their time of need,” said Hank Patton, USA Cares Executive Director. Patriot Club members are also eligible for Fort Knox Federal membership.

In addition, Fort Knox Federal is a frequent corporate contributor to USA Cares activities, including its Annual Gala to honor and raise money for active military, veterans, and their families.

All corporate donations, Patriot Club dues and gifts go directly to sustain USA Cares’ support of military families. Club members receive quarterly newsletters with articles on upcoming events and how USA Cares makes a difference in the lives of so many of our nation’s heroes.

For example, an Air Force Reserve veteran, who served two combat tours in Afghanistan and left the service after a diagnosis of PTSD, was scheduled to begin work for a government contractor. Because the veteran had one month without pay, while waiting on his first paycheck, he fell behind on his auto loan. “USA Cares assisted this veteran during his transition with a loan payment to avoid the loss of his transportation,” Patton said.

For more information about USA Cares or Fort Knox Federal, please log on to or, respectively.

Fort Knox Federal serves more than 88,000 members and operates 16 branches throughout central Kentucky with new branch buildings in Valley Station, Hodgenville, Danville, Brandenburg and Bardstown. Other Fort Knox Federal branches are conveniently located in Campbellsville, Elizabethtown, Fort Knox, Leitchfield and Radcliff.

Toys for Tots Donation

December 18, 2015

For over 20 years, Fort Knox Federal has proudly supported the United States Marine Corps Reserve’s Toys for Tots program. This year the Credit Union was able to contribute $4,500 to the worthwhile cause. Additionally, Fort Knox Federal was able to collect several boxes of toys and clothes to donate to the program

The Best Credit Card Cash Advance Deals

October 2, 2015 - Matthew Frankel, Fox Business

Financial experts generally frown upon taking a credit card cash advance, and it's easy to see why. Most credit cards not only charge higher interest rates on cash advances but also charge fees on top of it. However, there are some decent reasons for taking a credit card cash advance and a few credit cards that actually offer reasonable cash advance terms.

Know what you're getting into first
A cash advance refers to taking a short-term cash loan against your credit card. Typically, credit card users who want to take a cash advance do so at an ATM using a PIN, just like when using a debit card. Many credit cards also allow for check cash advances, where you have the ability to write a check and have the charge added to your credit card's balance.

There are definitely some upsides to cash advances. For starters, they give you quick and easy access to cash in an emergency, or if you find yourself in a situation where credit cards aren't accepted. And the cost of a cash advance is cheaper than some other types of borrowing, such as payday loans.

However, there are several things you need to know before taking out a cash advance that could make you think twice.

  • Unlike with credit card purchases, cash advances don't have a grace period. Interest starts accumulating immediately after you get the cash.
  • Most credit cards charge cash advance fees (2% to 5% of the transaction is typical).
  • You usually have a lower limit for cash advances than purchases.
  • The interest rate for cash advances is normally higher than the purchase APR. A recent survey found that the average cash advance APR is 23.53%, far higher than the average purchase APR of 14.99%.
  • Cash advances aren't eligible for credit card rewards -- you aren't going to get frequent flyer miles for simply withdrawing cash at an ATM.
How to get the best credit card cash advance deals
Having said all of that, there are certainly some valid reasons for taking a cash advance. And if you're going to do it, you may as well get the best possible deal.

One card that is particularly cash advance-friendly is the Barclaycard Ring from Barclays, which charges the same APR for both purchases and cash advances and has a low cash advance fee of just $3. Since the card has one of the lowest APRs in the business -- as low as just 8% -- a cash advance on the card could be cheaper than, say, a personal loan from a bank.

Many credit unions also offer credit cards with decent cash advance terms, such as this one from Fort Knox Federal Credit Union, which has no cash advance fee whatsoever, and the same APR on both purchases and cash advances. The current APR range is 9.25% to 14.25%, so this is much better than typical cards. And, unlike the Barclaycard, the Fort Knox card lets you earn rewards as well.

Finally, it's worth mentioning that certain card issuers offer promotional cash advance deals fairly often. For example, I have a credit card with Bank of America, where I also maintain my checking account. Every so often, they send me checks I can use for cash advances (or anything else for that matter) that have promotional rates. And I'd be willing to bet that other big banks have similar offers from time to time.

The latest promotional mailer I received offers a 0% APR for cash advances until April 2017 -- more than 18 months from now. Even though a 3% cash advance fee still applies, this is about the cheapest way to borrow money for a year and a half that I know of. You'll need good (but not necessarily great) credit to get offers like these, but if you have the ability to take a cash advance on a credit card in the first place, I'm assuming you have at least decent credit.

The takeaway
Cash advances are convenient, but don't just start using your cash advance privileges without fully understanding what you're getting into. If you do decide that a cash advance is the best option for you -- or you simply want the option of taking cash advances in the future, make sure to get a credit card that offers favorable terms.

Fort Knox Federal Named Best of Hardin County

September 17, 2015

Fort Knox Federal Credit Union was selected as the “Best Credit Union” in Hardin County again in 2015 in the Reader’s Choice Awards survey. The Credit Union was selected as a finalist for “Best Mortgage Company,” as well.

As the largest Kentucky-based credit union in state, Fort Knox Federal has more than $1.2 billion in assets and serves nearly 87,000 members throughout central Kentucky and around the world. In all, Fort Knox Federal has 15 branches with six in Hardin County providing full member service operations inlcuding mortgage and loan proocessing, free ATM service, drive-thru and in branch teller service. Along with the convenience of local branches, Fort Knox Federal offers the latest in online and mobile banking, online BillPay and the new Personal Account Manager (P.A.M.).

“We’re pleased to receive this recognition. Fort Knox Federal is on a solid foundation and well positioned to continue to add member value with the ongoing support of the Board and dedication of our professional staff,” said Ray Springsteen, Fort Knox Federal President and CEO. “We continue to expand our services to meet members’ financial needs and go above and beyond in their service expectations. For example, Fort Knox Federal recently launched Prompt Pay which allows members with direct deposit of their payroll or government checks to have those funds posted to their checking accounts as much as two days before the payday,” he added.

As a not-for-profit financial services cooperative, Fort Knox Federal is owned by its members and is insured by NCUA, an agency of the federal government. Individual desposits are insured by NCUA for up to $250,000 per share account. Fort Knox Federal has been awarded the BAUER FINANCIAL highest 5-star SUPERIOR rating for safety for 21 consecutive years. Fort Knox Federal has also received the financial strength rating of “A+” or “Excellent” from Weiss Ratings, the nation’s leading independent provider of ratings and analysis of financial services companies.

Take Control of Your Finances by Banking Locally

August 13, 2015 - Kelsey Sheehy, NerdWallet

Big banks can feel impersonal and intimidating, with powerful executives who answer to shareholders, not customers.

Credit unions, by contrast, have built a reputation as member- and community-focused financial institutions.

That impression is driven by a number of factors, including lower fees, competitive interest rates, helpful staff and straightforward accounts. On all of those fronts, credit unions rate higher than large national banks, according to an annual report by the American Customer Satisfaction Index.

Those qualities don’t just make people happy with their credit unions; the low costs and responsive services these institutions may provide can also empower consumers to take control of their finances. Here’s how:

  • Lower fees for the same services can mean more of your money stays where it belongs: with you. Many credit unions will even reimburse ATM fees charged to you by other service providers.
  • When it comes to lending, credit unions typically charge less, according to statistics from the National Credit Union Administration. For example, the average rate on new and used auto loans at credit unions is almost half what banks charge. Higher returns on checking and savings balances add to your resources by giving you more money to work with. Although the impact may be minimal now, with interest rates near historic lows, the earnings could increase as the economy improves and rates rise.
  • Credit unions tend to be smaller, so you can build relationships with the people who work there. Those employees can grow to know you, your family and your financial needs, and help you make decisions that take all of those into consideration.

Banking locally has other benefits, too:

  • Credit unions are invested in the neighborhoods and members they serve. A credit union’s business depends on the financial health of its members, who also own the institution, so the managers want their members and the community to thrive. As a result, they may be more willing to work with borrowers who fall on hard times by deferring a loan payment or refinancing a mortgage to reduce monthly payments.
  • Credit unions are not-for-profit organizations, so their aim isn’t to maximize profit from every transaction. As a result, they’re more likely to recommend products and services that best fit your needs, rather than those that deliver the most revenue.
  • Small businesses often rely on local financial institutions for loans and other services. Credit unions are more likely than large banks to approve small business loans , according to a Harvard Business School report in 2014. It shows these cooperatives approved 51% of small business loan applications they received from 2011 and 2013. Big banks approved just 17% during that timeframe, according to the report.

This monetary support can help companies grow, hire new employees and, in turn, contribute to the health of the local economy.

Fort Knox Federal Opens New Branch in Shepherdsville Walmart

March 25, 2015

Fort Knox Federal Credit Union opened a second Louisville area branch on March 25th. The new branch is located inside Walmart at 545 Conestoga Parkway in Shepherdsville.

The Shepherdsville Branch is full-service and offers valuable savings and loan products along with mortgage and loan processing, free ATM services , and in-branch teller service along with the latest in technology including online and mobile banking .

This new facility is Fort Knox Federal’s second branch located inside a Walmart and is a part of the Credit Union’s continuing growth. Now, with more than $1.1 billion in assets, Fort Knox Federal serves approximately 80,000 members worldwide and currently operates 15 branches throughout central Kentucky. In January of 2013, Fort Knox Federal opened its first Jefferson County branch at 9915 Dixie Highway near the Meijer’s Shopping Complex.

GOBankingRates Reports 7 Best Auto Loan Rates Available in Louisville

Published March 12, 2014 by

Car prices are rising, yet auto loan rates remain low, at least for the moment; in order to get behind the wheel, American borrowers are taking out larger loans today than ever before.

To help car buyers take advantage of the lowest auto loan rates today from local banks and credit unions, released a list of the best rates in Louisville.

"Although rates on some loans, like mortgages, are increasing, auto loan rates are still relatively low and affordable,” said Amanda Garcia, reporter for GOBankingRates. “GOBankingRates consistently finds auto loan rates below 3% at many community banks and credit unions, such as Fort Knox Federal Credit Union’s current 1.99% APR rate.”

To provide borrowers benchmarks for comparison shopping, GOBankingRates also surveyed the average on the city, state and national levels.

Average New Auto Loan Rates:

Louisville Kentucky National
3-Year Auto Loan 3.04% APR 3.11% APR 3.26% APR
4-Year Auto Loan 2.98% APR 3.01% APR 4.01% APR

7 Lowest Auto Loan Rates in Louisville

Fort Knox Federal Credit Union is notable for offering the lowest auto loan rate in Louisville, along with an additional 0.25% rate discount if the vehicle’s loan-to-value ratio is 60 percent. (The listed 1.99% rate applies to terms up to 66 months and requires either an 80 percent loan-to-value or a direct deposit of the net pay.)

  • No. 1 - Fort Knox Federal Credit Union’s 3- and 4-Year Auto Loans: 1.99% APR*
  • No. 2 - PNC Bank’s 3-Year Auto Loan: 2.34% APR
  • No. 3 - BB&T’s 3-Year Auto Loan: 2.39% APR
  • No. 4 - Park Community Federal Credit Union’s 4-Year Auto Loan: 2.49% APR
  • No. 5 - US Bank’s 3-Year Auto Loan: 2.50% APR
  • No. 6 - Chase Bank’s 4-Year Auto Loan: 2.93% APR
  • No. 7 - Fifth Third Bank’s 4-Year Auto Loan: 3.08% APR

*A rate of 1.74% APR is available to borrowers with a Loan-to-Value ratio of 60%.

About This Study

This study surveyed base auto loan rates for three- and four-year terms from banks and credit unions located in Louisville and surrounding Jefferson County as of March 3, 2014. Data was compiled from the GOBankingRates interest rate database, which in partnership with Informa Research Services Inc., aggregates banking and interest rate information belonging to more than 6,000 U.S. banks and credit unions. Rates listed above do not consider short-term, promotional offers or relationship discounts.

Please note that interest rates are subject to change at any time at the discretion of individual banks and credit unions. Other terms and conditions could apply. Although the information has been obtained from the various financial institutions, Informa Research Services cannot guarantee the accuracy.

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VISA Cardholder Services Phone Number Change

November 14, 2013

Starting November 14th, your VISA Credit Cardholder Service phone number has changed. The new number is (866) 820-6781 and can be used to obtain balance information. Other VISA phone numbers have remained the same and can be found on our VISA website page .

Fort Knox Federal Opens New Branch in Bardstown Walmart

November 18, 2013

Fort Knox Federal Credit Union opened a second Bardstown branch located inside Walmart, 3795 East John Rowan Blvd., on November 18.

“The Wal-Mart location is an added convenience for our many members in Bardstown, Springfield and the surrounding area,” said Bill Rissel, President and CEO of Fort Knox Federal. “We are very pleased to work with Walmart and have a location in this popular retail outlet,” he added.

The Credit Union opened a new, free-standing office in Bardstown in June 2012 replacing its Kroger Shopping Center branch.

Fort Knox Federal membership is open to anyone who lives, works, or worships in Nelson and surrounding counties. The new Bardstown Branch offers full-service including mortgage and loan processing, free ATM services , and in-branch teller service along with the latest in technology including online and mobile banking . “Our new branch will accommodate members however they prefer service,” Rissel added.

This new facility is our second branch in Bardstown and is a part of Fort Knox Federal’s continuing growth. Now with more than $1 billion in assets, Fort Knox Federal serves approximately 80,000 members worldwide and currently operates 14 branches throughout central Kentucky. In January this year, Fort Knox Federal opened its first Jefferson County branch at 9915 Dixie Highway near the Meijer’s Shopping Complex. The Credit Union also opened new branches recently in Hodgenville, Brandenburg and Danville.

Dump Your Big Bank and Save

Published September 2013 by

Consumer Reports magazine recently published an article featuring the advances in technology by most Credit Unions which now rival national banks.  Given the high fees often charged by the big banks, the article suggests it’s time to switch to a Credit Union. Below is an excerpt from the article, check out the full article here.

"Remember Bank Transfer Day, two years ago this month? That’s when mad consumers were supposed to bring giant banks such as Bank of America, Chase, and Citibank to their knees by moving their money to nonprofit credit unions.

It was a bust. Few people switched, in part because of the grip big banks had on them with their alluring online and mobile-banking services. Those let you use your computer and smart phone to watch balances, find ATMs, make account transfers, pay bills, and even deposit checks.

Now the top 10 credit unions have caught up, and many smaller ones have added, or are working to add, smart-phone banking, says Mary Monahan, an executive at Javelin Strategy & Research, a California market research firm. And new competitors have entered the fight for your dollars.

So if you’re still sick and tired of your megabank’s sneaky fees, questionable investment tactics, and slippery mortgage-lending practices, now may be the time for you to stage your own Bank Transfer Day. Here’s the lowdown on alternatives worth considering.

Credit unions

Why? They offer all of the services of a bank (and federal deposit insurance) but tend to charge considerably less for checking accounts and loans. And they generally pay higher interest rates on savings.

Why not? The customer-satisfaction rating for credit unions dropped five points last year, to 82, according to the American Customer Satisfaction Index (ACSI), which tracks 48 industries. Nevertheless, they still outscored Chase (74), Citibank (70), and Bank of America (66).

Where to find them. Membership is open only to people in a specific group, such as employees of a company, members of an association, or residents of certain communities. Go to to find prospects near you."

Fort Knox Federal has recently added many Online Solutions to allow you access from anywhere at anytime. If you are interested in switching your checking account over to Fort Knox Federal, click here .

Fort Knox Federal Credit Union Receives 2013 Best of Bardstown Award

June 10, 2013

BARDSTOWN -- Fort Knox Federal Credit Union has been selected for the 2013 Best of Bardstown Award in the Credit Unions category by the Bardstown Award Program.

Each year, the Bardstown Award Program identifies companies that we believe have achieved exceptional marketing success in their local community and business category. These are local companies that enhance the positive image of small business through service to their customers and our community. These exceptional companies help make the Bardstown area a great place to live, work and play.

Various sources of information were gathered and analyzed to choose the winners in each category. The 2013 Bardstown Award Program focuses on quality, not quantity. Winners are determined based on the information gathered both internally by the Bardstown Award Program and data provided by third parties.

About Bardstown Award Program

The Bardstown Award Program is an annual awards program honoring the achievements and accomplishments of local businesses throughout the Bardstown area. Recognition is given to those companies that have shown the ability to use their best practices and implemented programs to generate competitive advantages and long-term value.

The Bardstown Award Program was established to recognize the best of local businesses in our community. Our organization works exclusively with local business owners, trade groups, professional associations and other business advertising and marketing groups. Our mission is to recognize the small business community's contributions to the U.S. economy.

SOURCE: Bardstown Award Program

PRP/Valley Station Area Business Association Presentation

February 6, 2013

PRP/Valley Station Area Business Associations presented a framed photo collage to Angie Keeling (left), Valley Station Branch Manager; Michael Richardson, Commercial Loan Officer; Michael Bateman, Vice President of Marketing; and, Charlotte Masterson, Business Development Representative.  The pictures were taken at the new Valley Station Branch ribbon cutting and groundbreaking ceremonies.

Award Winning Volunteers

Louise Herring Award

Fort Knox Federal's Board of Directors Chairman, Howard Williams, accepted the Louise Herring Philosophy-in-Action Member Service Award.

Dora Maxwell Award

Howard Williams, Board of Directors Chairman, accepted the Dora Maxwell Social Responsibility Community Member Service Award.


Steve Brody Award

Fort Knox Federal's Board of Directors Secretary, Rosemary Deaton, accepted the Steve Brody Outstanding Volunteer Award.

William Mapother Award

Janet and Dennis Pike accepted the William Mapother Lifetime Achievement Award on behalf of CSM Leo C. Pike, Jr.

Fort Knox Federal Named Army Credit Union of the Year

August 21, 2012

Fort Knox Federal Credit Union was awarded the Department of the Army’s 2011 Distinguished Service Award for Credit Unions during the Defense Credit Union Council Annual Conference held in Denver, Colorado on August 20.  

Fort Knox Federal received this honor in recognition of its many, varied and ongoing support activities extended to the Soldiers, civilian employees, veterans, retirees and their families who serve or are affilated with the Fort Knox military post.  Fort Knox Federal was selected from all on-post credit unions in the nation.

Since 1950, Fort Knox Federal has served the post and surrounding communities providing low cost financial services with a special appreciation for the unique circumstances faced by many military families.  Specifically during 2011, Fort Knox Federal supported the mission of Fort Knox by improving special services to members; expanding its role in support of the post command and communities, and substantially increasing its involvement and collaboration with key partners both on and off post.  

“We could not have achieved this recognition without the hard work and dedication of the entire (Credit Union) staff and, specifically, those member service staff on post and in surrounding branches,” said Bill Rissel, Fort Knox Federal President and CEO.  Board of Directors Chairman Howard A. Williams accepted the award on behalf of Fort Knox Federal.

“The commitment of Fort Knox FCU to provide quality products and efficient service to Soldiers, DoD employees and their family members is outstanding.  Selection for this award is an indication of the excellent working partnership that exists between you, the Credit Union Liaison Officer and the credit union staff.  Results of this relationship are also evident in the financial products and timely delivery of financial services to the Fort Knox community,” said James J. Watkins, Director of the U.S. Army Accountability and Audit Readiness Department, when announcing the award to the post command.

Fort Knox Federal also dedicated a full-time seasoned employee to assist hundreds of newcomers, mostly  inbound Soldiers and their families, coming to Ft. Knox at no cost or obligation.  Relocation Specialist/Liaison Officer, Charlotte Masterson, also provided support to groups such as Family Readiness, Duke Association, Wounded Warriors Transition Unit and Financial Readiness Program.  Fort Knox Federal provided a wide range of services from housing referrals to arts and recreation suggestions to transportation and lodging information to family financial management workshops, all free of charge.

In 2011, Fort Knox Federal sponsored a platoon deployed to Afghanistan.  The troops of Recon Platoon, A Company, Special Troops Battalion, 3rd Brigade Combat Team, 1st Infantry Division received many care packages and shared supportive messages between the unit members and the Credit Union staff.

Sixty-two years ago, Fort Knox Federal was established by 10 civilian employees at Fort Knox and now serves nearly 80,000 members and operates 14 conveniently located branches in Bardstown, Brandenburg, Campbellsville, Danville, Elizabethtown,  Fort Knox, Hodgenville, Leitchfield and Radcliff; and, just announced construction of new branch in Valley Station in Jefferson County.

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